What do falling rates mean for borrowers? This clearly falls into the 88% of the time where borrowers get significantly ahead by having a variable-rate mortgage. With the mess in the US expected to take several years to get sorted out, we’re in an unprecedented time where we can safely assume rates will remain low. […]

By David Olive Business Columnist How to put this politely? While not a deadbeat, the U.S. is no longer among the world’s most creditworthy nations. America now has a lower credit rating than Liechtenstein. And the Toronto-Dominion Bank. Mind you, that’s a matter of opinion. On Friday, U.S. credit rating agency Standard & Poor’s for […]

The US stepped back from the brink of default on Tuesday, but congressional approval of a last-ditch deficit-cutting plan failed to dispel fears of a credit downgrade and future tax and spending feuds.  President Barack Obama and lawmakers from across the political divide expressed relief over the hard-won compromise to raise the country’s borrowing authority […]

Turning the key in a lock that no landlord has access to, reading in a hammock in your own backyard and painting your dining room bright red – what could be more exciting than making the leap from renter to first-time homeowner? Getting swept up in all the excitement is a wonderful feeling, but some […]

Yields crash = lower fixed mortgage rates coming. The five-year bond yield nose-dived 16 bps yesterday, crashing through “support” at 2%. It’s the biggest plunge in yields since March 2009.   Yields are hurtling lower in response to a slew of negatives, including: “Austerity measures” (spending cuts) built into Congress’ debt agreement. Those will drag […]

Both an appraisal and a home inspection are important steps of the home-buying process, so it’s well worth your effort to distinguish the differences between them and how they can uncover detailed information about the home’s value and condition.   AppraisalEssentially, home appraisal is a survey activity performed by a professional in order to develop an […]

Selecting the mortgage term that’s right for you can be a challenging proposition for even the savviest of homebuyers, as terms typically range from six months up to 10 years. By understanding mortgage terms and what they mean in dollars and sense, you can save the most money and choose the term that is best […]

The debt problems of the global financial system are your problems. So pay down your credit card, credit line and mortgage. Making your household balance sheet tidier has the fortunate spillover effect of saving our economy.  From what? Just look at what’s happening in the US: The housing market is a disaster, weak consumer spending […]

With anticipated interest rate increases on the horizon, many homeowners are wondering whether to lock debt such as mortgages and secured lines of credit into a fixed-rate mortgage or stay variable.   Even some who are mortgage free are concerned with how rate increases will impact secured lines of credit, the financing of vacation homes and […]

Owning the roof over your head should still be a goal for most Canadians as paying rent is like paying someone else’s mortgage, experts say.    The Bank of Canada gave its clearest signal last week that interest rates are set to rise, while a growing number of real estate watchers and some economists are […]